PAEC Foundation Housing Project’s problems about to end?
Located on Canal Bank Road in Lahore, PAEC Foundation Housing Project has been facing delays for many years now. The society’s management could not handover possession of property here, despite completing development work to a large extent.
During 2013, there were many rumours that possession was on its way, but nothing happened. These rumours then resurfaced during 2016, but once again, no practical steps were taken to move towards possession.
The real problem behind the delays was the supply of electricity. However, now there is light at the end of the tunnel. The Water and Power Development Authority (WAPDA) will finally supply electricity to the society, which means that possession will be granted here sooner rather than later. And what makes me believe that? WAPDA issued a demand notice to the society’s management for the supply of electricity, and the management has settled its accounts with the authority.
According to a source, electricity wires have been delivered to the society and electrification will be completed within a few months. It is expected that the society’s management will hand over possession right after the provision of electricity and the process will probably take another six months to complete.
PAEC Foundation Hosing Project is in the same neighbourhood as Bahria Town and property prices in the former are far less in comparison.
The society features residential 1-kanal, 15-marla, 10-marla and 5-marla plots. One-kanal plots are available in Block A, 15 marla in Block B, and 10 marla and 5 marla in Blocks C and D.
Despite delays in possession, the society has seen an increase in property values in the past year. And if possession is granted within the next six months, the society will register further escalation in property prices.
PAEC Employees Housing Society, Rawat
The Pakistan Atomic Energy Commission initiated a residential society in Rawat, but could not complete it for some reasons. Investors usually compare PAEC Foundation Housing Project, Rawat to PAEC Foundation Hosing Project, Lahore, which is unfair because both the projects have completely different prospects.
Considering the fact that WAPDA will finally supply electricity to PAEC Foundation Housing Society, Lahore, the future of the project does not seem bleak. In fact, if you will invest in the project today, you can reap good returns in the coming few months. The area that the project is located in is seeing growth, and there is no reason for PAEC to be left out of the price hikes.
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ReplyDeleteI think PAEC Foundation housing society Lahore will become one of the most developed societies in Lahore. In future is now very bright. Work on Shehkam Flyover has been started in the last month i.e. july 2021 and it is going to be completed in Feb 2022. This will bring a big boost to the prices of the PAEC housing Lahore.
ReplyDeleteAny news about electricity and gas connections in PAEC Housing project Lahore?
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ReplyDeleteWork on Shehkam Interchange is going to be completed by the 1st week of Feb 2022. This will bring a big boost to the prices of PAEC Foundation housing society. However the management of the society is very many slow which is so irritating for the members of the society.
ReplyDeleteYes you are right. The society management is so lethargic. When wiil the electricity work be completed.
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